The pace of US private equity fundraising slackened further over April, according to Buyouts data, as the spread of the coronavirus pandemic created additional headwinds for firms with active offerings.
As of April 29, 2020, 283 US-based buyout, growth equity, mezzanine and other PE funds collected a total of $86.1 billion, down 24 percent from the $113.5 billion secured during the same period last year.
Vehicles which added substantially to fundraising totals this month include Insight Partners’ eleventh software growth equity fund, which closed at $9.5 billion; Clearlake Capital Group’s sixth flagship PE fund, which closed at more than $7 billion; and Roark Capital’s second restaurant-focused fund, which brought in nearly $1.4 billion.
US PE fundraising totaled $310 billion in the whole of 2019, Buyouts data show, up 26 percent from 2018 and the highest level reached since 2007.
Action item: Download Buyouts’ fundraising snapshot here.